Market reaction to the government's public-private programs for troubled MBS and commercial loans has put upward pressure on the benchmark 10-year Treasury yield as of midday Tuesday, partially reversing the steep drop it saw less than a week ago.The 10-year yield at noon Tuesday was at about 2.7%, up from a recent drop to a low near 2.5% from a point close to 3.0%. That decline had marked the largest one-day drop in the 10-year yield since Oct. 20, 1987, according to Freddie Mac chief economist Frank Nothaft. A Federal Reserve plan to buy longer-dated Treasuries and purchase more agency mortgage-backed and debt securities had triggered the earlier decline in the benchmark yield.
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